by The global mesoporous silica market is witnessing growth due to the increasing use of mesoporous silica in various applications such as adsorbents, catalysts, drug delivery, and others. Mesoporous silica finds widespread applications in oil & gas, petrochemicals, chemical synthesis, biomedical, and food industries due to its large surface area, uniform pore size distribution, and tunable pore structure.
The Global Mesoporous Silica Market is estimated to be valued at US$ 194.8 MN in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Mesoporous Silica Market Demand are Merck KGaA, American Elements, nanoComposix, Inc., Taiyo International, Mitsubishi Chemical Corporation, MKnano, W.R. Grace & Co., AGC Chemicals Americas, Glantreo Ltd., ACS Material LLC. Merck KGaA holds a significant market share in the global mesoporous silica market.
The rising demand from end-use industries such as oil and gas, petrochemicals, and food is a major factor driving the growth of the global mesoporous silica market. Mesoporous silica is widely used as an adsorbent in oil and gas refineries for separating oil from gas and removing impurities.
Geographic expansion of key players in emerging regions is expected to boost market growth. Players are focusing on expanding their presence in the Asia Pacific region to tap the large consumer base. Growing demand from countries like China, India, Indonesia, and others for application in the chemical and petrochemical industries is fueling market growth.
Market key trends
The use of mesoporous silica for drug delivery applications has increased significantly over the past few years. Due to its large pore volumes and tunable pore sizes, mesoporous silica can effectively host and deliver large drug molecules. It protects the drug from degradation and releases it in a controlled manner. This trend is expected to continue as research on mesoporous silica for cancer treatments and other therapies progresses.
Porter’s Analysis
Threat of new entrants: Low capital requirements for manufacturing entry and availability of cheap labor in emerging economies facilitate new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price sensitivity for products.
Bargaining power of suppliers: Suppliers have high bargaining power due to limited number of raw material suppliers and lack of substitutes.
Threat of new substitutes: New substitutes pose low threat as mesoporous silica has unique properties for targeted applications in industries.
Competitive rivalry: Intense competition exists among major players to gain market share through product differentiation, quality, and customer service.
Geographical Regions
North America holds the largest share in the global mesoporous silica market, supported by high usage in pharmaceutical and biotechnology industries. The United States accounts for the majority share due to presence of major players and focus on R&D activities.
Asia Pacific is expected to witness the fastest growth during the forecast period due to rising pharmaceutical manufacturing in India and China. Increasing healthcare spending and growing biotechnology industry are factors driving the regional market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
